Coinbase and PayPal join forces to offer cryptocurrency transactions in Europe

4:01 pm
August 31, 2023

Coinbase, one of the leading cryptocurrency exchanges, has collaborated with PayPal, the world’s largest online payment company, to facilitate the purchase of cryptocurrencies for users in Germany and the UK. This partnership aims to simplify the process of buying cryptocurrencies and ensure a smoother transactional experience for customers.

Previously, Coinbase users in the US, Canada, UK, and Europe could use PayPal to purchase crypto. Now, this functionality has been extended to users in Germany and the UK, with plans to expand to more European nations in the future.

One of the key advantages of this integration is the increased security it provides. Users no longer have to trust Coinbase with their financial information as they can rely on PayPal’s advanced security system. The partnership also benefits from Coinbase’s modern security features, including encryption and diligent fraud monitoring.

To make a purchase on Coinbase using PayPal, users first select their preferred cryptocurrency, then the payment method, and click “Add a payment method.” This redirects them to PayPal, where they can create an account, add their bank account or debit card, and set up for future purchases.

In addition to this collaboration, Coinbase recently obtained approval from the National Futures Association to offer cryptocurrency futures to qualified US clients, further strengthening its position in the market.

FAQ

Can European users on Coinbase now use PayPal to buy cryptocurrencies?

Yes, European users, particularly those in Germany and the UK, can now purchase cryptocurrencies on Coinbase using PayPal.

What are the benefits of using PayPal on Coinbase?

Using PayPal on Coinbase enhances security as users do not need to share their financial information with the cryptocurrency exchange. Additionally, Coinbase’s robust security features, such as encryption and fraud monitoring, provide an added layer of protection.

Will this feature be available in more European countries?

Yes, Coinbase plans to expand this feature to more European nations in the coming months.

What other achievements has Coinbase recently accomplished?

In August, Coinbase received approval from the National Futures Association to offer cryptocurrency futures to qualified US clients.

Can PayPal users in other countries deposit cash directly into their Coinbase accounts?

Currently, PayPal users in countries including the US, UK, Canada, and the EU can deposit cash directly into their Coinbase accounts.

Summary

Coinbase and PayPal have joined forces to enable European users, specifically in Germany and the UK, to purchase cryptocurrencies on Coinbase using PayPal. This collaboration aims to simplify the process and enhance security for customers. Users no longer need to trust Coinbase with their financial information, as PayPal’s advanced security system provides an additional layer of protection. Coinbase’s recent approval from the National Futures Association to offer cryptocurrency futures further solidifies its position in the market.


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